Once you’ve received your first student loan payment in September, the next step is to work out how much money you have left after paying the first rent instalment for your student accommodation. Remember, this loan instalment will be your only student loan payment until January. Depending on your student loan amount, a part-time job may help to fund your university lifestyle. How much money you’ll need depends on your personal routine and interests, so have a think about whether it’s worth applying to some jobs ahead of starting a new academic year.
If you’re moving into a student house in September…
Going into a rented property as a student, you'll need to pay a deposit, which is usually about one month's rent. This has to be paid ahead of moving into the property in September – keep in mind that your final student loan payment is in April, the previous academic year. You'll also need to consider that, usually, student housing contracts are 12 months long and begin in July. That means, if you’re planning on moving home for the summer, you might still need to pay rent on the new property, even if you’re not yet living in it.